Required Information

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Nautical has two classes of stock authorized: $$10$ par preferred, and $$1$ par value common. As of the beginning of $2024,$

$125$ shares of preferred stock and $3,000$ shares of common stock have been issued. The following transactions affect

stockholders' equity during $2024$ :

Nautical has the following beginning balances in its stockholders' equity accounts on January $1,2024$: Preferred Stock,

$$1,250$; Common Stock, $$3,000$; Additional Paid$-$in Capital, $$19,500$; and Retained Earnings, $$11,500.$ Net income for the

year ended December $31,2024,$ is $$7,650.$

Taking into consideration the beginning balances on January $1,2024$ and all the transactions during $2024,$ respond to the

following for Nautical:

Required:

Prepare the stockholders' equity section of the balance sheet as of December $31,2024.($Amounts to be deducted should be

Indlcated by a minus sign.$)$